Synaptics (SYNA) received a Buy rating and a $73.00 price target from Rosenblatt Securities analyst Kevin Cassidy yesterday. The company’s shares closed last Tuesday at $60.01.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 22.7% and a 68.4% success rate. Cassidy covers the Technology sector, focusing on stocks such as Smart Global Holdings, Western Digital, and Seagate Tech.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Synaptics with a $79.50 average price target, representing a 31.7% upside. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $77.00 price target.
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Based on Synaptics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $328 million and net profit of $5 million. In comparison, last year the company earned revenue of $334 million and had a net profit of $6.7 million.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYNA in relation to earlier this year. Most recently, in April 2020, Nelson Chan, a Director at SYNA bought 18,750 shares for a total of $595,500.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Synaptics, Inc. engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices. It operates through the following geographical segments: China, Japan, United States, South Korea, Taiwan, and Other. The company was founded by Federico Faggin and Carver A. Mead in March 1986 and is headquartered in San Jose, CA.
